CHICAGO--(BUSINESS WIRE)--Northern Trust Corporation (Nasdaq: NTRS), holding company of The Northern Trust Company, has declared a quarterly cash dividend of $0.38 per share on its common stock ($1.66-2/3 par value), payable on October 1, 2016, to stockholders of record on September 2, 2016.
The dividend represents a 6 percent increase from the prior quarterly rate of $0.36 per share, and will result in an expected annual dividend rate of $1.52, compared with the prior annual rate of $1.44.
"We are pleased to announce a dividend increase, which demonstrates the continued strength of Northern Trust’s capital position, conservative risk profile and commitment to shareholders," Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said.
Northern Trust Corporation also declared a cash dividend of $365.625 per share of 5.85% Series C non-cumulative perpetual preferred stock (resulting in a distribution of $0.365625 per depositary share) payable on October 1, 2016, to stockholders of record on September 15, 2016.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 20 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2016, Northern Trust had assets under custody of US$6.4 trillion, and assets under management of US$906.2 billion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures.